Fractal, Kilt Protocol and Polkadex Collaborate to Provide Decentralized Kyc Solution for Exchange
Berlin, Germany and Tallinn, Estonia, Jan 28, 2021 - (ACN Newswire) - Fractal, KILT Protocol and Polkadex today announced a partnership to create a decentralized KYC system for exchange customers. Polkadex and Fractal will use the KILT Protocol as the underlying infrastructure for managing the KYC credentials required by Polkadex, to simplify and streamline the onboarding experience.KILT Protocol will integrate Fractal's user-centric KYC/AML platform, which is built for compliance with global, regulated industries. BOTLabs GmbH (the company behind KILT Protocol) will provide a wallet as a browser extension for customers to hold their credentials, and make the wallet available to Polkadex for verification. Fractal and Polkadex will integrate KILT's SDK to build out the platform.The onboarding flow will be as follows:- Fractal will automatically issue KILT-Credentials to Fractal's current user base of 140,000 users who have previously KYC'd - Polkadex will ask new users for credentials- If the user has no credentials, they are directed to download and set up KILT's wallet- If a user is not verified, Fractal guides them through identity verification and attests the KYC credentials whe...
